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Okyanos sale to boost medical tourism, say new owners

British-based Thorn Medical Plc has acquired Grand Bahama's Okyanos stem cell facility, and says plans to expand the clinic's services will make it one of the world's leading centres – attracting investment and boosting The Bahamas' medical tourism industry. 

Okyanos/Thorn Medical
Monday, May 9, 2016
Monday, May 9, 2016

ALT TAG HEREBritish-based Thorn Medical Plc has acquired Grand Bahama’s Okyanos stem cell facility, and says plans to expand the clinic’s services will make it one of the world’s leading centres – attracting investment and boosting The Bahamas’ medical tourism industry.

Thorn Medical, which bought a controlling interest in Okyanos Cell Therapy in April, recently obtained an unlimited license from the government of The Bahamas for both stem cell research and treatment. The company is currently preparing a stock market listing in London and will then apply for a dual listing on NASDAQ to raise further funds to invest in its stem cell operations in The Bahamas.

Chairman and chief executive of Thorn Medical PLC Jack Kaye says: “With the acquisition of a controlling stake in Okyanos, we can leverage our stem cell breakthroughs and our research and therapy license to start providing immediate treatments for patients, rather than waiting until completion of our own facilities. Thorn Medical has ambitious plans for growing the company rapidly to become a major international force in the medical and healthcare arena. We plan to leverage the state-of-the-art facilities and expert staff of Okyanos to quickly become the leading human stem cell treatment company in the Western world—and to ensure the Bahamas’ place at the forefront of exciting new developments in modern medicine.”

Bahamian Parliament’s 2013 legislation allows the use of adult stem cells for research and treatment. The Stem Cell Research and Therapy Act rapidly positioned the country as a global leader, providing regulation to protect patient safety while simultaneously granting patients access to leading edge treatments for unmet healthcare needs.

Okyanos Cell Therapy was the first such facility to be licensed by the National Stem Cell Ethics Committee (NSEC) to treat chronic, degenerative conditions using patients’ own fat-derived stem cells. The centre has already treated nearly 200 patients with a range of illnesses from congestive heart failure and Parkinson’s through to orthopedic conditions including arthritis and disc disease, as well as helping patients suffering from diabetes, psoriasis, multiple sclerosis and lupus.

“Our observations in both clinical and research settings have shown the ability of stem cells to reverse scars, restore blood flow and address immune response, as well as repair or replace damaged tissue in the heart and elsewhere in the body,” says chairman of Okyanos’ Medical Advisory Council Dr Eric Duckers. “These multi-potent cells are unique to each patient and open the door to treatment opportunities where patients currently have none.”

Contributed by Okyanos/Thorn Medical, exclusively for The Bahamas Investor.

The National Accounts Section of the Department of Statistics has announced that the 2015 GDP in current prices had a positive growth of 2.74 per cent, however the GDP in constant prices decreased by 1.66 per cent.

Prime Minister Perry Christie addressed Parliament on the review of expiring concessions contained in the Hawksbill Creek Agreement in Freeport. Read his address here.

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